Spiegel hopes to save Snapchat with an algorithmic feed

Snap got destroyed by Wall Street today after a horrible Q3 earnings where revenue and user growth fell well under expectations.

Instagram and WhatsApp's Snapchat clones aren't slowing down. Today Facebook CEO Mark Zuckerberg announced Instagram Stories and WhatsApp Status both now have 300 million daily active users. That's up from 250 million for Instagram in June, and WhatsApp in July. That makes the copies almost twice the size of the original, as Snapchat's entire app only has 173 million daily active users. Zuckerberg shared the new stats today on Facebook's Q3 earnings call that see it earn record revenue and an all-time high share price despite the shadow of Russian election interference.

Now that Facebook's Stories products have their own augmented reality face filters, they've hit a degree of feature parity with Snapchat. That means we may see more innovation now that there's less of a Snap roadmap to follow. Though perhaps we'll see Facebook copy Snapchat's Bitmoji personalized avatars and Snap Map location sharing feature.